Asheesh Birla, the senior vice president of products at Ripple, talked about Ripple’s new project during a YouTube ask-me-anything session. He said that Ripple is gearing up for an xRapid expansion project which might boost the XRP Price and this boost could be the one that members of the XRP rich list have been waiting for all this time. She continued how Ripple is planning to launch this project and has already started in Mexico and the Philippines. In Birla’s words;
“On demand liquidity is available today in Mexico and the Philippines. So far, the positive responses from our customers in those two countries has been overwhelming. But we are working on the next set of destinations, which we will be announcing in hopefully short order here. I know our product teams and marketing and engineering teams are working hard to light up those next set of destinations so that we can provide our customers with increased choice in terms of global expansion.”
XRP isn’t Like Any Other Digital Asset
Birla said that XRP isn’t like any other digital asset. It is an excellent option for enabling cross-border payments because it is fast and affordable. Birla continued;
“XRP has an advantage in that it was built specifically for payments. And so it settles in a matter of seconds. So that question that you had earlier about volatility – not an issue when using XRP for cross-border payments. The cost of sending with XRP is just a fraction of a few pennies. And the third [reason] is that it’s extremely scalable. You can do thousands of transactions per second using XRP and all those reasons make it really well suited for cross-border payments. You can beam YouTube to the space station. You can actually send emails with just a few clicks and anyone around the world can get it. But sending money, I mean that is a painful experience. If you’ve sent a bank wire, or if you’ve actually tried to wire money around the world, you know that it’s just faster probably to just get that money, get a plane and get it to your destination. The crazy thing about payments today in 2019 is that if you want to send money globally, it really hasn’t changed since the 1960s. We’re not out there to destroy all the good around the world in terms of regulation and financial institutions. Really early on at the company we wanted to be constructive builders, not destructors. So we are working with banks, payment providers and central banks around the world to make a better and more modern financial system to send money across borders.”
XRP News Today – Ripple Has Plans for the Middle East
While the company has the resources required to open the payment corridor, it has to make sure that it meets the regulatory requirements before it proceeds. As soon as things are sorted out on the regulatory front, Ripple will be able to partner with exchanges within the country to promote the use of the xRapid protocol and in extension, XRP. The Silicon Valley tech company has already entered into partnership with Coins.ph and Bitso to power payments between Mexico and the Philippines. Birla continued;
“We have plans for the Middle East. We have plans for Canada, imminently. But I think the really exciting thing that xRapid and Ripple brings is it actually brings access to new markets that perhaps aren’t actually accessible now… It’s two countries today. It could be 10 before the middle of the year. And what stops it from being any more than that?”
XRP Price Prediction – XRP (XRP) Price Today – XRP / USD- Ripple Surges After Holding Support: Could 0.48 Be Next?
| Name | Price | 24H % |
|---|---|---|
 | $0.00 | -0.80% |
According to the news of NewsBtc; Although Ripple’s performance over the past few weeks has been dismal, to say the least, and holders of the cryptocurrency have missed out on many of the massive gains that other cryptocurrencies have been experiencing, XRP incurred a sudden burst of buying volume today that has allowed it to surge 4%.
Now, analysts are setting their sights on further gains for the embattled cryptocurrency, with one analyst setting a target of $0.48 – assuming XRP is able to follow through with its current surge. Because this upwards move firmly established XRP’s support level around $0.32, one analyst believes that it may continue surging towards $0.48 in the near-future.
While looking towards XRP’s Bitcoin trading pair (XRP/BTC) many analysts had noted that the cryptocurrency was reaching a “make or break” price level that could have led to significantly further downside for the digital asset, had it broken down further.
Cryptorangutang, a popular cryptocurrency analyst on Twitter, spoke about this price level in a tweet made just prior to today’s surge, noting that Ripple will either “jump here or the drop will be brutal.” He explained in his words;
“I’ve seen people trying to buy $xrp’s bottom for a month now, but this is the first time imo it’s worth it. Steadily declining volume on that drop, important level, bullish divs. Either jump here or the drop will be brutal,”
Ryan W, another popular cryptocurrency analyst, spoke about this possibility in a recent tweet and said;
“We should see a follow up to this move. $XRP resistance levels $0.38, $0.44, $0.50. Target of $0.48 remains as described on TradingView,”
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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.
